Under IFRS, which of the following is NOT a condition for an investment to be classified as current?
A)It is held primarily for trading purposes.
B)It is a cash equivalent.
C)It must be expected to be sold or realized within 12 months from the balance sheet date.
D)It must be accounted for under the cost model.

Question

Quizplus · Accepted Answer

According to IFRS, an investment can be classified as current if it is held primarily for trading purposes or if it is a cash equivalent or if it is expected to be sold or realized within 12 months from the balance sheet date. However, there is no requirement for the investment to be accounted for under the cost model.

Under IFRS, Which of the Following Is NOT a Condition